Sydney Sweeney’s X Account Hacked Again to Push a Crypto Memecoin

• Sydney Sweeney’s X account hack to promote the SWEENEY token led to a $10M pump-and-dump scheme within two hours.
• Repeated celebrity account hacks, like Sydney Sweeney’s, highlight the urgent need for enhanced cybersecurity measures.
• The crypto market’s celebrity endorsements face risks, with hacks exploiting high-profile accounts for fraudulent schemes.

American actress Sydney Sweeney’s X account was hacked to promote a Solana-based token named SWEENEY. This hack led to a classic pump-and-dump scheme, causing financial turmoil. Within two hours, the token amassed over $10 million in trading volume due to posts made from Sweeney’s account.

Financial Impact and Market Reaction

The promotion of SWEENEY from Sweeney’s hacked account gave the token high visibility, resulting in a rapid increase in trading volume. However, this surge was short-lived. The token’s price dropped by nearly 90% within an hour, starting at 6:15 pm UTC. According to DEX Screener statistics, SWEENEY’s market cap dropped from a peak of $3.85 million to its current value of $1.2 million.

This incident raises major cybersecurity concerns beyond the immediate financial impact. The hacker responsible for the breach claimed credit for similar hacks on 50 Cent’s and Hulk Hogan’s X accounts. They announced plans to target another celebrity soon, highlighting the persistent threat of such cyberattacks.

Recurring Celebrity Account Hacks

This hack marks the second time Sweeney’s X account has been compromised. In January, hackers used her account to promote another Solana token named MILK, which now has a market cap of $1 million. The repeated targeting of Sweeney and other celebrities indicates a worrying trend in cybersecurity.

The crypto market has seen increasing involvement from celebrities, further complicated by these hacks. Recently, celebrities like Caitlyn Jenner and Iggy Azalea have launched Solana-based meme coins. These tokens, initially involving memecoin collaborator Sahil Arora, gained alot of attention. Rich the Kid, David Adedeji, Adeleke Oon, and Floyd Mayweather also had token launches promoted from their X accounts.

Among these, Azalea’s MOTHER token was the most successful, reaching a peak market cap of $148.9 million. However, its value has since declined by nearly $100 million, according to CoinGecko.

The Need for Enhanced Cybersecurity

The hacking of Sweeney’s X account shows the ongoing risks in the crypto market and the importance of good cybersecurity measures. The hacker’s claims of previous and future hacks emphasize the need for better protection for celebrity accounts and the broader public involved in cryptocurrency.

The crypto market continues to grow in popularity, attracting not only investors but also cybercriminals. The recent hack of Sydney Sweeney’s X account is a reminder of the vulnerabilities in the digital space. Enhanced cybersecurity measures are crucial to prevent further incidents and protection from financial harm.